Intel Eyes $1.6B AI Chip Deal

Benzinga

Intel is in advanced talks to buy AI chip startup SambaNova for about $1.6B, potentially closing next month. SambaNova once hit a $5B valuation as it competed with Nvidia.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Intel Corporation is in advanced talks to acquire AI chip startup Sombanova Systems for about $1.6

00:08billion, including debt, with a deal potentially closing next month, Bloomberg reported.

00:14Founded in 2017 by Stanford professors, Sombanova builds custom AI chips to compete with NVIDIA

00:20and previously reached a $5 billion valuation in 2021. Intel CEO Lipputan serves as Sombanova's

00:28chairman, and his venture firm led its Series A round in 2018. Intel beat third quarter revenue

00:33and earnings estimates and forecast fourth quarter revenue of $12.8 billion to $13.8 billion

00:40with adjusted earnings of $0.08 per share. For all things money, visit Benzinga.com.

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